EasyAspataal is making small and mid-sized hospitals smarter with its one-click digital payments infrastructure
The healthtech startup is building a tech-enabled customised payments and insurance platform for SME hospitals that makes their patients eligible for their unique Health First, Pay Later solution.
India’s small and mid-sized hospitals are losing 30 percent of their annual revenue on average due to poor front office management, inflexible payment infrastructure, and tedious insurance handling leading to huge financial losses and dissatisfaction across the board.
Mumbai-basedaims to bridge these gaps in treatment delivery with its asset-light and adaptable customised solution and offer first-class hospitalisation experience to patients by analysing 250+ data points.
Their unique QR code solutions placed at these hospitals have ensured that patients get all payment options under one umbrella, including the option of allowing them to borrow from friends and family, from across the world.
Delivering improved patient care
Founded by Gunjali Kothari and Manoj Gupta, the startup raised $600K in June and has grown 20x in revenue. Today, they are present in more than 450 hospitals across 18 cities.
Mayank Kumar, who had to hospitalise his mother urgently at 2am, remembers how the startup ensured that the payment would be in one click even in a 15 bed hospital.
EasyAspataal offers an instant Health First, Pay Later solution for any patient, including health insurance policy holders, without the hassle of prior approvals and they admit patients in real-time.
Making a difference, one hospital at a time
The startup has played a key role in disrupting the healthcare sector by elevating both patient as well as hospital journeys since its launch. Dr Niraj Dube of Sai Baba Hospital in Nashik said, “Due to EasyAspataal’s platform, we are now able to collect payments faster and admit more patients by giving them flexible options.” Dr Geetika of Shiv Hospital echoed similar sentiments and added that with EasyAspataal solutions, they saw a direct impact of 20 percent on the topline of their business, and more satisfied patients.
Time, says Manoj Gupta, has always been critical when it comes to hospitalisation. “Delay at any level activates the chain reaction and can alter the end state experience of the patient drastically. We are a tech-enabled platform that uses 250+ data points to arrive at the payment decision in just 15 minutes,” says the founder and CEO. Our vision is to make every hospital facilitate zero minutes check-in and check-out to their patients.
Market and growth
Witnessing a steep surge in demand from hospitals who wish to get onboarded to their platform, EasyAspataal has registered 100 percent growth month after month for the last four months and is on target to achieve $1 million in revenue by June 2022. They are also looking to onboard another 2,000 hospitals in the next six to eight months.
With a team of specialist insurance underwriters, actuaries, doctors, and fintech experts, they are reimagining insurance and payments for hospitals. The team is looking to strengthen its size to 100 people in six months from the current 22 and also expand to other states like Tamil Nadu and Karnataka. They have done strategic tie-ups at the national level with the All India General Insurance Agents’ Association to serve 100K patients in six months. Recently, they also extended their product offering to home care services with the help of Portea Medical as a checkout option.
Alongside the expansion, the team has constantly been working on improving their technology and product offerings for the hospitals. As admissions and discharge continue to be a pain point for all the stakeholders, EasyAspataal is determined to solve the massive problem with their technology and constant innovation.
Just like how we get our groceries delivered within minutes today with step-tracking mechanisms, startups like EasyAsaptaal are making healthcare delivery more transparent, efficient and affordable.